Bank of England Hosts FXJSC Meeting on Market Resilience and Digital Assets

On 26 March 2026, the Bank of England hosted a meeting of the London Foreign Exchange Joint Standing Committee (FXJSC), led by Andrea Rosen. During the session, Paul Robson from NatWest Markets and Vasileios Gkionakis of Aviva Investors highlighted the strength of sterling despite geopolitical challenges and the increased safe-haven appeal of the US dollar linked to the conflict in the Middle East. FX volatility remained moderate, with a 5% drop in daily average FX turnover, totaling $3,850 billion, although there was a 20% increase in turnover compared to the previous year. Alina Ishmuratova from JPMorgan addressed the slow integration of digital asset applications in FX. The meeting also covered the FX Global Code review and acknowledged the departures of Alan Barnes (FCA), Nina Moylett (M&G), and Richard Bibbey (HSBC).